Shanghai, China-based leading biotechnology company dedicated to developing next-generation gene modulation therapy utilizing epigenome regulation to treat prevalent diseases, Epigenic Therapeutics raised USD 32 million in Series A. The company announced the fundraise on August 29, 2023. Qiming Venture Partners and OrbiMed co-led the financing for the firm. Meanwhile, existing investor Morningside Venture Capital provided the investment.
Purpose of Investment for Epigenic Therapeutics
With the latest financing, Epigenic Therapeutics seeks to support the preclinical development and early clinical validation of two leading programs. It further intends to fuel the discovery of future pipelines. The company also has plans to fund the expansion of its leadership team.
Meanwhile, Epigenic Therapeutics has plans to continue investments in the company’s core technology platforms.
What the company’s official has to add
Bob Zhang, co-founder and CEO of Epigenic Therapeutics, said, “In two years since its inception, Epigenic has made significant progress towards transforming cutting-edge science into life-saving epigenome medicines. Now, we have developed targeted therapeutic strategies. We are honoured and grateful to have the support from top-tier global investors as we continue our mission to pioneer innovations in epigenome medicines to be ultimately implemented in patient care.”
What the investors have to comment
Dr. Kan Chen, Partner of Qiming Venture Partners, further said, “Gene therapy is one of the most exciting areas of biotechnology in recent years. Qiming has been closely following the latest technology developments and breakthroughs and how they can be applied to meet the unmet medical needs of more patients. Epigenic Therapeutics leverages globally leading epigenetic modulation technology to develop innovative therapies for various chronic diseases. With a passionate and experienced team, the company has been steadily and efficiently moving forward with the development of technology platforms and pipelines. We look forward to Epigenic Therapeutics bringing hope and treatments to global patients soon.”
In addition, Steven Wang, Partner of OrbiMed Asia Partners, said, “Epigenetic modulations have shown remarkably superior efficiency, durability, as well as safety profile compared to other genetic tools. Epigenetic Therapeutics is a leader in this space and has leveraged the unique advantage of the platform to produce potentially best-in-disease product profiles. We are impressed with the preclinical data and the execution capability of the Epigenic Therapeutics leadership team. We look forward to supporting the company in bringing the two development candidates to the clinic.”
About the company
Bob Zhang, the CEO of the company, launched in 2021. The company possesses multiple product candidates in the pipeline, such as treatment for metabolic, cardiovascular, viral hepatitis, ocular and rare diseases.
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